Modine Manufacturing (NYSE:MOD) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Modine Manufacturing (NYSE:MOD) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,838 shares of the auto parts company’s stock after acquiring an additional 34,638 shares during the period. Victory Capital Management Inc. owned about 0.37% of Modine Manufacturing worth $22,240,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Assetmark Inc. boosted its stake in Modine Manufacturing by 176.5% in the 3rd quarter. Assetmark Inc. now owns 8,894 shares of the auto parts company’s stock worth $1,181,000 after purchasing an additional 5,677 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of Modine Manufacturing in the third quarter valued at $463,000. Apollon Wealth Management LLC acquired a new stake in shares of Modine Manufacturing in the third quarter worth $494,000. Aigen Investment Management LP purchased a new position in shares of Modine Manufacturing during the third quarter valued at $388,000. Finally, Oppenheimer & Co. Inc. raised its position in Modine Manufacturing by 67.4% during the third quarter. Oppenheimer & Co. Inc. now owns 41,069 shares of the auto parts company’s stock valued at $5,454,000 after buying an additional 16,539 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 3.8 %

Shares of NYSE MOD opened at $80.23 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84. The business has a 50-day moving average price of $103.61 and a two-hundred day moving average price of $117.63. The firm has a market capitalization of $4.22 billion, a PE ratio of 26.92, a PEG ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. As a group, analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has authorized a stock repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director William A. Wulfsohn purchased 2,530 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now directly owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.